STATE LEADS THE WAY IN BUSINESS INVESTMENT
Written on the 2 February 2012
THE Sunshine State has recorded the highest levels of investment across the nation according to a new study.
The Deloitte Access Economics December Investment Monitor report shows there are $96.1 billion of projects underway in Queensland. Broader investment projects in Queensland reached an historic high of $187.9 billion, up $4.1 billion on the previous quarter.
Deputy Premier Andrew Fraser perceives the results as proof that investment in Queensland is ‘booming’.
"As we outlined in the mid-year review, business investment in Queensland is expected to rise by around 35 per cent in 2011-12, stronger than the 27.75 per cent growth forecast at Budget time," says Fraser.
"On top of the news that we'll be delivering a budget surplus one year earlier than previously predicted … (the) report shows that the Queensland economy does have a lot to look forward to."
The report also suggests Queensland and Western Australia continue to dominate the project investment landscape, with WA recording the second highest value of projects at $89.5 billion.
"Because of this heavy-lifting, Australia is regarded as a stand-out performer on the international stage in the face of the fallout from the European (debt) crisis.”